Insider Selling: Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Sells 4,000 Shares of Stock

Heritage Insurance Holdings, Inc. (NYSE:HRTG) Director Nicholas George Pappas sold 4,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $12.64, for a total transaction of $50,560.00. Following the completion of the transaction, the director now owns 76,314 shares in the company, valued at approximately $964,608.96. The trade was a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Heritage Insurance Stock Down 0.5 %

Shares of HRTG traded down $0.06 during trading hours on Tuesday, hitting $12.43. The company had a trading volume of 165,119 shares, compared to its average volume of 458,690. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $381.40 million, a PE ratio of 4.97 and a beta of 0.98. Heritage Insurance Holdings, Inc. has a one year low of $5.51 and a one year high of $16.90. The company’s fifty day moving average price is $12.01 and its two-hundred day moving average price is $10.57.

Heritage Insurance (NYSE:HRTG) last announced its earnings results on Wednesday, November 6th. The insurance provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.25. Heritage Insurance had a net margin of 9.10% and a return on equity of 29.17%. The business had revenue of $211.85 million during the quarter, compared to the consensus estimate of $209.91 million. During the same period in the previous year, the company posted ($0.28) earnings per share. As a group, equities analysts forecast that Heritage Insurance Holdings, Inc. will post 1.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HRTG has been the topic of several research analyst reports. Piper Sandler raised Heritage Insurance from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $9.00 to $13.00 in a research note on Friday, August 9th. Truist Financial raised their price target on Heritage Insurance from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of Heritage Insurance from a “hold” rating to a “buy” rating in a research note on Monday.

Institutional Investors Weigh In On Heritage Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Heritage Insurance in the second quarter valued at approximately $30,000. nVerses Capital LLC acquired a new stake in shares of Heritage Insurance during the third quarter valued at about $49,000. Valmark Advisers Inc. purchased a new stake in shares of Heritage Insurance in the 2nd quarter valued at $80,000. Sei Investments Co. acquired a new stake in shares of Heritage Insurance during the second quarter worth about $102,000. Finally, MetLife Investment Management LLC lifted its holdings in Heritage Insurance by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,391 shares of the insurance provider’s stock worth $164,000 after buying an additional 7,545 shares in the last quarter. Hedge funds and other institutional investors own 59.03% of the company’s stock.

Heritage Insurance Company Profile

Heritage Insurance Holdings, Inc, through its subsidiaries, provides personal and commercial residential insurance products. The company offers personal residential insurance in Alabama, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Rhode Island, South Carolina, and Virginia; commercial residential insurance for properties in Florida, New Jersey, and New York; and licensed in the state of Pennsylvania, as well as personal residential and wind-only property insurance.